Taxes Corporate Franchise Tax - This state tax is levied annually at the rate of $1.50 per $1,000 on the first $300,000 of capital stock, surplus, undivided profits and borrowed capital employed in Louisiana
- The rate is $3.00 per $1,000 after the first $300,000
- The minimum tax is $10.00 per year; waver of the corporate franchise tax is allowed under certain incentive programs
Corporate Income Tax - Tax ranges from 4% to 8% of the net taxable income
- The effective rate of taxation is somewhat less because federal income taxes are deductible in computing net taxable income
Property Tax - No state property tax in Louisiana
- 2007 City of Lafayette property tax millage is 17.81, Lafayette Parish property tax millage is 85 - a total of 102.81 mills
- For property outside of the city limits of Lafayette, the total millage is 86.53
- Several types of exemptions are available in Lafayette Parish. If you own property that you reside in, you may apply for homestead exemption which reduces the taxable value of your home by $75,000, resulting in substantial savings on your property taxes.
Sales Tax - Sales tax is levied on the retail sale of personal property, goods used or stored for use in Louisiana and on leases and rentals of tangible personal property and certain services
- Louisiana state sales tax is 4%
- City of Lafayette, City of Broussard, City of Carencro, City of Scott, Town of Duson all have a sales tax rate of 4%, the Town of Youngsville has a sales tax rate of 4.5% and outside of all city limits the sales tax rate is 3%
Source: Lafayette Parish Tax Assessor, Louisiana Department of Revenue Corporate Income Tax
| Sales Tax
| Property Tax (Based on assessed value)
| 4% up to $25,000
| State: 4.0%
| Land: 10%
| 5% up to $25,000
| Parish: 4.0%
| Improvements: 15%
| 6% over $50,000
| Total = 8.0% |
| 7% over $100,000
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| 8% over $200,000
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